The first hurdle towards keeping the Kings in Sacramento has been crossed.
An investment group led by Mark Mastrov and Ron Burkle have officially submitted an offer to the NBA to buy the Kings.
Mastrov and Burkle were named as the “whales,” or heavy hitters, by mayor Kevin Johnson last night in his State of the City address. Mastrov will bid to be the majority owner, while Burkle plans to finance a new downtown arena in Sacramento.
The Kings were sold a few months ago to a Seattle group led by Chris Hansen, but the deal requires approval by the NBA Board of Governors and has hit several roadblocks since.
Johnson is expected to make his case to the Board of Governors in the coming weeks.
“We have done everything the NBA has ever asked of us,” said Johnson. “I’m convinced the NBA is going to make the right decision.”